Jeil Pharma Holdings Approves 70 Won Dividend Per Share and Passes All Agenda Items at Shareholders' Meeting

“Jeil Pharmaceuticals and Holdings Show Continued Improvement in Performance”

Jeil Pharmaceuticals and Jeil Pharma Holdings each held their regular shareholders' meetings on March 24 at their headquarters in Seocho-gu, Seoul, and approved all major agenda items, including the approval of financial statements and the appointment of directors, as originally proposed.

Cheil Pharmaceutical and Cheil Pharma Holdings held their respective annual general shareholder meetings on the 24th at their headquarters in Seocho-gu, Seoul. Attendees at the shareholder meetings are listening to the presentations from the company. Cheil Pharmaceutical

At its 9th shareholders' meeting, Jeil Pharmaceuticals reported last year's consolidated results: sales of 567.2 billion won, operating profit of 20.7 billion won, and net profit of 32 billion won. The company attributed the recovery in profitability to increasing the proportion of its own products over merchandise-based sales and improving its cost ratio.

At the meeting, President Seokje Sung and President Sangchul Han were reappointed as inside directors. Seonghoon Kim was newly appointed as an outside director and will also serve as an audit committee member. Wangseong Kim was reappointed as an outside director and will continue to serve as an audit committee member.

Jeil Pharma Holdings also held its 66th shareholders' meeting and reported consolidated results for last year: sales of 657.6 billion won, operating profit of 38.7 billion won, and net profit of 34.6 billion won. The company explained that improved profitability at its major subsidiary, Jeil Pharmaceuticals, and the optimization of its business structure led to this recovery in performance.

For the director appointment agenda, Bonghee Moon and Joohyun Lee were reappointed, and Kyungryul Min was newly appointed as a director. Seungbae Jeon was reappointed as an outside director and will also serve as an audit committee member. The approval of a cash dividend of 70 won per common share was also granted.

Both companies also made partial amendments to their articles of incorporation at this shareholders' meeting, clarifying the grounds for fundraising and the holding and disposal of treasury shares, and reflecting recent amendments to the Commercial Act. They explained that improvements to the dividend procedure were also included to enhance flexibility in capital policy management.

The companies stated that they plan to continue focusing on optimizing their business structures and risk management this year to maintain profitability.

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